Thai tycoon Vikrom pledges 95% of his wealth to charity
Vikrom Kromadit, chairman and chief executive of Amata Corporation, marked his 70th birthday on Friday by announcing that he was leaving 95% of his wealth to charity.
The philanthropist announced that he has specified in his will that most of his assets, worth more than 20 billion baht, will go to the Amata Foundation upon his death.
These assets include land plots, buildings, condominiums, company shares and other personal belongings that can be used to promote the public good as per the foundation’s objectives, he said.
Vikrom, who serves as chairman of the charity, also said that he was stepping down as CEO of Amata to take on the role of adviser.
The public company, listed on the Stock Exchange of Thailand in 2007, specialises in developing industrial estates in Thailand and other countries. It has some 40 affiliates and subsidiaries.
Vikrom is registered as the operator of six companies under the Amata business empire, with assets totalling 26.8 billion baht, according to data from the Commerce Ministry’s Department of Business Development (DBD).
The companies under his jurisdiction are Amata Corporation Plc, Amata Development Co Ltd, Amata Water, Amata Mansion Service Co Ltd, Amata Holding Co Ltd, and Amata City Rayong Co Ltd.
DBD data shows Vikrom holds a 26.3% stake in Amata Corporation and 54.8% in Amata Holding.
The tycoon was born on March 17, 1953, as the eldest son of a huge family based in Kanchanaburi. He has 23 siblings, including stepbrothers and stepsisters.
Vikrom earned a bachelor’s in mechanical engineering from National Taiwan University in 1975 and returned to start an import-export business in Thailand. He then switched to developing industrial estates and built the Bangpakong Industrial Park, which was later renamed Amata Corporation. Amata in this case means “immortal”.
The corporation oversees many industrial estates mainly in eastern seaboard provinces covering a total area of over 60,000 rai (9,600 hectares) and housing more than 1,200 factories.
Apart from his work as an entrepreneur and philanthropist, Vikrom has written many books to share his views on business, wealth and life. Though Vikrom was once married, there is no information on whether he has any children.